Wednesday, February 24, 2021

Workhorse Group Inc. [WKHS] Is Currently 0.65 below its 200 Period Moving Avg: What Dose This Mean?

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Workhorse Group Inc. [NASDAQ: WKHS] surged by $0.1 during the normal trading session on Wednesday and reaching a high of $15.79 during the day while it closed the day at $15.41. The company report on August 10, 2020 that Workhorse Group Reports Second Quarter 2020 Results.

Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today reported financial results for the second quarter ended June 30, 2020.


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Workhorse Group Inc. stock has also loss -8.95% of its value over the past 7 days. However, WKHS stock has inclined by 506.69% in the 3 months of the year. Over the past six months meanwhile, it has gained 354.57% and gained 406.91% year-on date.

The market cap for WKHS stock reached $1.10 billion, with 68.47 million shares outstanding and 58.50 million shares in the current float. Compared to the average trading volume of 23.29M shares, WKHS reached a trading volume of 12049639 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Workhorse Group Inc. [WKHS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WKHS shares is $21.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WKHS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 13, 2020. The new note on the price target was released on July 09, 2020, representing the official price target for Workhorse Group Inc. stock. Previously, the target price had yet another raise from $10 to $26, while BTIG Research kept a Buy rating on WKHS stock. On June 26, 2020, analysts increased their price target for WKHS shares from 4.50 to 11.50.

The Average True Range (ATR) for Workhorse Group Inc. is set at 1.77, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 11339.13.

WKHS stock trade performance evaluation

Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.95. With this latest performance, WKHS shares dropped by -6.61% in over the last four-week period, additionally plugging by 354.57% over the last 6 months – not to mention a rise of 365.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WKHS stock in for the last two-week period is set at 53.57, with the RSI for the last a single of trading hit 45.35, and the three-weeks RSI is set at 55.03 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 12.30, while it was recorded at 15.83 for the last single week of trading, and 5.14 for the last 200 days.

Workhorse Group Inc. [WKHS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Workhorse Group Inc. [WKHS] shares currently have an operating margin of -6338.12 and a Gross Margin at -1452.17. Workhorse Group Inc.’s Net Margin is presently recorded at -9868.98.

Additionally, WKHS Total Debt to Total Capital is recorded at 250.17, with Total Debt to Total Assets ending up at 114.78.

Reflecting on the efficiency of the workforce at the company, Workhorse Group Inc. [WKHS] managed to generate an average of -$458,800 per employee. Receivables Turnover for the company is 8.43 with a Total Asset Turnover recorded at a value of 0.01.Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for Workhorse Group Inc. [WKHS] stock

With the latest financial reports released by the company, Workhorse Group Inc. posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -70.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WKHS.

Workhorse Group Inc. [WKHS]: Insider Ownership positions

There are presently around $273 million, or 26.60% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: VANGUARD GROUP INC with ownership of 2,658,489, which is approximately 4.701% of the company’s market cap and around 6.40% of the total institutional ownership; AROSA CAPITAL MANAGEMENT LP, holding 2,025,377 shares of the stock with an approximate value of $31.21 million in WKHS stocks shares; and FIRST MANHATTAN CO, currently with $27.05 million in WKHS stock with ownership of nearly 4.93% of the company’s market capitalization.

Positions in Workhorse Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 75 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 5,405,250 shares. Additionally, 28 investors decreased positions by around 3,098,131 shares, while 17 investors held positions by with 9,212,866 shares. The mentioned changes placed institutional holdings at 17,716,247 shares, according to the latest SEC report filing. WKHS stock had 50 new institutional investments in for a total of 2,597,357 shares, while 12 institutional investors sold positions of 1,089,865 shares during the same period.

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